Top Banner

Click here to load reader

Assurant Supplemental Coverage Available for clients through age 64 in AL, AR, LA, MI, MO, MS, OK, TX, WI and WV for effective dates starting May 13, 2012

Dec 26, 2015

ReportDownload

Documents

  • Slide 1
  • Assurant Supplemental Coverage Available for clients through age 64 in AL, AR, LA, MI, MO, MS, OK, TX, WI and WV for effective dates starting May 13, 2012 Cancer and Heart/Stroke plans For agent use only THIS POLICY PROVIDES LIMITED BENEFITS
  • Slide 2
  • 2 Assurant Supplemental Coverage Why Cancer and Heart/Stroke coverage? More than 1.6 million U.S. residents will be diagnosed with cancer this year (American Cancer Society, Facts and Figures 2012) Somebody in the U.S. has a heart attack every 34 seconds (Centers for Disease Control and Prevention, Heart Disease Fact Sheet, 2010) Medical bills cause more than 60% of U.S. bankruptcies (American Journal of Medicine, 2009)
  • Slide 3
  • 3 Assurant Supplemental Coverage Why Cancer and Heart/Stroke coverage? Even with the best medical insurance, a life- threatening illness is costly for clients Medical plan deductible/coinsurance can easily total $5,000 to $10,000 Lengthy illness could mean loss of work time and wages Household bills pile up Alternative and some other treatments may not be covered by major medical insurance Cancer and Heart/Stroke coverage provides help when its most needed, so clients and their families wont be burdened with bills
  • Slide 4
  • 4 Assurant Supplemental Coverage Introducing Assurant Supplemental Coverage Cancer and Heart/Stroke plans With Cancer and Heart/Stroke, your clients pay for only the conditions theyre most worried about You and your clients can trust Assurant Healths 120 years* in health insurance experience and expertise you wont find anywhere else Easy integration just click to add Cancer and Heart/Stroke to an Assurant Health major medical or fixed-benefit plan! *Assurant Health is the brand name for products underwritten and issued by Time Insurance Company (est. 1892).
  • Slide 5
  • 5 Assurant Supplemental Coverage Simple Save time and integrate plans with just one click only from Assurant Health! Add Cancer and Heart/Stroke in a single process, with no more than two additional questions for cancer and four questions for heart/stroke Plan pays a lump-sum cash benefit upon life- threatening diagnosis, when its most needed Plan pays cash benefits per covered person
  • Slide 6
  • 6 Assurant Supplemental Coverage Flexible Clients choose coverage for cancer only, heart/stroke only, or both paying for only those conditions theyre most concerned about Underwriting is separate; i.e., clients can buy Heart/Stroke plan even if theyve had cancer Plan pays regardless of any other coverage in force Clients choose any doctors and treatments they wish Clients use the cash however they want Pay medical plan deductible and coinsurance Replace lost income Pay household bills Seek experimental treatment
  • Slide 7
  • 7 Assurant Supplemental Coverage Affordable Clients pay for only the conditions they worry about most Clients choose a benefit level ($10,000 to $75,000) to suit their needs and budget One rate for any number of children In LA, coverage may be purchased for individuals only, not spouses or families.
  • Slide 8
  • Cancer and Heart/Stroke benefits
  • Slide 9
  • 9 Assurant Supplemental Coverage Benefit payments for Cancer If your client purchases this And is diagnosed with thisThe plan pays Cancer onlyLife-threatening cancer100% of the selected benefit amount Cancer and Heart/Stroke plans pay for life-threatening conditions, when policyholders need help most For cancer only, policyholder receives the full cash benefit upon diagnosis of life-threatening cancer Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.
  • Slide 10
  • 10 Assurant Supplemental Coverage Benefit payments for Heart/Stroke If your client purchases this And is diagnosed with thisThe plan pays Heart/Stroke onlyCoronary artery disease or cardiac arrhythmia resulting in heart attack 100% of the selected benefit amount Coronary artery disease or cardiac arrhythmia resulting in coronary artery bypass 25% of the selected benefit amount Coronary artery disease resulting in coronary angioplasty 10% of the selected benefit amount Cerebrovascular disease resulting in stroke 100% of the selected benefit amount Heart/Stroke benefits depend on medical event 100% benefit for heart attack or stroke Partial benefits paid for other conditions; policyholder still protected by benefit remainder Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.
  • Slide 11
  • 11 Assurant Supplemental Coverage Benefit payments for Cancer and Heart/Stroke If your client purchases this And is diagnosed with thisThe plan pays this for cancer and heart/stroke conditions Cancer and Heart/Stroke plans Any of the conditions listed on the previous two slides Benefits listed in previous slides for Cancer and Heart/Stroke Clients purchasing Cancer and Heart/Stroke coverage receive 100% benefits for life-threatening cancer and heart attack or stroke* If client receives partial Heart/Stroke benefits, he or she is still protected by benefit remainder *Specific conditions listed on slide 10. Waiting periods apply for Cancer and Heart/Stroke benefits in most states. Where waiting periods do not apply, benefit payments will be reduced for a limited time.
  • Slide 12
  • 12 Assurant Supplemental Coverage Benefit payment example Susan buys a $50,000 Cancer and Heart/Stroke plan covering herself, her spouse and her two children. She is diagnosed with life-threatening cancer. She receives a $50,000 lump-sum payment upon diagnosis She is eligible to receive another $50,000 in benefits if shes diagnosed with a condition covered by her heart/stroke benefits Since benefits are paid per person, Susans husband and children are still eligible to receive their own cancer and heart/stroke benefits Example is for illustration purposes only
  • Slide 13
  • 13 Assurant Supplemental Coverage Benefit payment example 2 John buys a $25,000 Heart/Stroke plan. Hes diagnosed with coronary artery disease. If Johns coronary artery disease results in a heart attack, he receives a $25,000 lump-sum payment (100% of $25,000); this ends his policy. If Johns coronary artery disease results in coronary artery bypass, he receives $6,250 (25% of $25,000). He is eligible to receive the remaining 75% for another, different heart/stroke diagnosis. If Johns coronary artery disease results in coronary angioplasty, he receives $2,500 (10% of $25,000). He is eligible to receive the remaining 90% for another, different heart/stroke diagnosis. Example is for illustration purposes only
  • Slide 14
  • Easy Cancer and Heart/Stroke integration and sales
  • Slide 15
  • 15 Assurant Supplemental Coverage Add Cancer and Heart/Stroke to major medical Most major medical plans include high deductibles, limits and other costs that can add up Cancer and Heart/Stroke helps pay costs so clients can concentrate on getting well
  • Slide 16
  • 16 Assurant Supplemental Coverage More protection for less money Adjust major medical plan to higher deductible Add Cancer and Heart/Stroke for additional benefits Your client receives valuable protection at less total cost You receive more commission Plan shown is OneDeductible with 100% coinsurance and Cancer and Heart/Stroke plan for male with standard rating, age 40, non-tobacco user in ZIP 78721. Numbers have been rounded. OneDeductible plan $3,750 deductible $5,000 deductible Annual premium$2,326$1,716 Cancer and Heart/Stroke coverage ($25,000) $285 Total annual premium $2,326$2,001 Total savings $323 per year!
  • Slide 17
  • 17 Assurant Supplemental Coverage Add Cancer and Heart/Stroke to Assurant Health Access Pair two affordable plans for a package of benefits Assurant Health Access pays fixed benefits plus Cancer and Heart/Stroke coverage pays cash Clients receive lump sum to help alleviate worry about paying for back-end costs Inpatient and outpatient treatment Rehabilitation costs Non-medical costs like travel, mortgage/rent, gas and food
  • Slide 18
  • 18 Assurant Supplemental Coverage Two affordable plans and extra benefits Sell Assurant Health Access Value plan Add Cancer coverage Your client receives help with everyday health expenses + extra cash for life-threatening cancer You receive significantly more commission Plan shown is Assurant Health Access Value plan and Cancer plan for male, age 40, non-tobacco user in ZIP 78721. Numbers have been rounded. PlanMonthly premium Assurant Health Access Value $74 Cancer $50,000$23 Total premium$97 Valuable package of benefits for less than $100/ month!
  • Slide 19
  • 19 Assurant Supplemental Coverage Why sell Cancer and Heart/Stroke? Substantial commission! TierFirst-year compensation 145% 250% CO, FL, MI and MN Tier 140% CO, FL, MI and MN Tier 245%
  • Slide 20
  • Cancer and Heart/Stroke affordable rates
  • Slide 21
  • 21 Assurant Supplemental Coverage Cancer and Heart/Stroke sample rates Cancer plan $25,000 benefit Heart/Stroke plan $25,000 benefit Cancer and Heart/Stroke $25,000 benefit Individual monthly rates Male age 30$8.48$8.10$12.58 Male age 40$13.33$14.45$23.78 Male age 50$26.45$25.90$48.35 Family monthly rates Primary/spouse age 30 and children $15.53$11.90$23.43 Primary/spouse age 40 and children $27.26$20.55$43.81 Prim